Foreign films seek to break into the massive China market, plus other stories

For PropertyGuru’s news roundup, filmmakers seek to break into China’s market despite many challenges. In other developments, a workshop seeking ways to promote green tourism took place in the central province of Quang Nam in Vietnam. Lastly, a supply shortage of shopping centres in Australia is keeping the market competitive.

Foreign films want a piece of the Chinese market despite obstacles like censorship reviews: Singapore director Jack Neo’s I Not Stupid 3 shows in China

Singapore director Jack Neo’s I Not Stupid series is well-known at home, but the latest in the instalment, I Not Stupid 3, has reached a far wider audience. The foreign film hit the screens in cities nationwide in China on 16th August, a historic feat for filmmakers in Singapore who have been eyeing the lucrative Chinese market for decades.

CNA reports that the Singapore movie managed to enter China’s film industry despite its labyrinth of restrictions for foreign shows, with quotas on the number of film imports and censorship reviews to pass. These got even tighter in 2018 when the Communist Party of China’s propaganda department took over the role of media regulation.

Breaking into China’s market alone is a golden badge for many filmmakers, and it comes with monetary returns as well.

However, while China remains a coveted market for foreign films, it recorded muted figures for its 2024 summer box office. Things could, however, turn around, as China looks to the film industry to boost domestic consumption – a key part of plans to counter the country’s sluggish economy. Among the initiatives is improving film offerings.

Quang Nam workshop seeks measures to promote green tourism in Vietnam

A workshop seeking ways to promote green tourism took place in the central province of Quang Nam on 15th August, according to VietnamPlus.

Co-organised by the provincial Department of Culture, Sports and Tourism and the Executive Board of the “Swiss Tourism for Sustainable Development Project in Vietnam” (ST4SD), the event brought together more than 120 delegates from state management agencies, tourism businesses and organisations, and domestic and international tourism experts.

Speaking at the event, the Director of the department Nguyen Thanh Hong pointed out the province’s tourism advantages and its target to become a green tourism destination.

Shopping centre supply shortage in Australia keeps investors interested

While shoppers continue to fork out money for goods they can’t live without, neighbourhood shopping centres are proving difficult to overlook for the real estate investor. The consistency and reliability of income neighbourhood shopping centres provide amid positive spending patterns is seeing private investors swarm for opportunities across New South Wales despite the rising cost of borrowing.

And a shortage of opportunities is keeping the market competitive.

As mentioned by JLL, the renovated Richmond Mall, northwest of the Sydney CBD, which is anchored by a strong-performing Coles supermarket, was the first neighbourhood centre to be offered to the market in 2024. The public sales campaign and highly competitive bidding environment resulted in a private investor purchasing the centre for AUD35 million in May. The transaction reflected a fully leased yield of 5.73 percent.

The Property Report editors wrote this article. For more information, email: [email protected].